Michael Dell backs up his buyout plan with $750 million in cash

Michael Dell really does seem fully committed to his plan for rebuilding Dell (DELL). Reuters reports that Dell and his investment firm have committed $750 million in cash to help secure the buyout of the company he founded back in 1984. Under the terms of the buyout, Dell is contributing $500 million of his own money while his MSD Capital firm will pitch in another $250 million. Dell earlier this week put the finishing touches on a $24.4 billion deal to take the company private after he enlisted the help of Silver Lake Partners and Microsoft (MSFT), which together have committed $3.4 billion to help buy out the firm. Most of the deal is being financed by several banks providing debt totaling around $13.75 billion and by Dell’s own 16% stake in the company.